Doing Business Starting a Business in Austria

• Contact your legal advisor to draft the articles of association.

• Clarify the company's registered office, name, and the managing director, and determine the scope of activities for your GmbH.

• Create a business plan, which serves as a guide for establishing your company and can significantly reduce entrepreneurial risk.

• Contact an Austrian bank to prepare for account opening.

• In Austria, a wide range of funding is available for your project when founding a company.

• To establish your GmbH, notarially certified articles of association are required (for single-person companies, this is a declaration of establishment).

• The minimum share capital is 10.000 with at least 5,000 Euros to be paid in cash.

• You need to fill out the application form, then have it notarized and signed by the management.

Required documents:

1. Notarized articles of association
2. Resolution on the appointment of the management (which is not required if already included in the articles of association)
3. Notarized sample declaration of signature of the management
4. Proof of the payment of the cash contribution, declaration of all managing directors

The application for registration is submitted directly to the Commercial Register Court.

• As a rule, an Austrian business license for economic activities is required.

• There are licensed, regulated and free trades. Whereas you only need to be over the age of 18 to carry out a free trade and show the criminal record certificate, the other types of professions also require proof of qualifications and/or experience.

• If you do not have the necessary qualifications or do not have a work permit for Austria, you can also recruit a "managing director under trade law" for at least 20 hours a week.

• INVEST in AUSTRIA will inform you about the required business registration for your planned activities like in Austria.

• As a limited liability company (GmbH), you are subject to the corporate tax and value added tax. You require a tax number for this purpose as well as a VAT identification number. You or your tax adviser can request this after your company has been entered in the Commercial Register.

• Do you have employees? You need to register them with the responsible social insurance institution before their first day of employment. This is usually done for you by your tax adviser.

• Cross-border capital transactions (for example direct investments) must be reported to the OesterreichischeNationalbank(OeNB)for statistical reasons.
  All the necessary information can be found on the OeNB websiteOeNB website ().

• Not an independent legal entity but commercially independent and geographically separate permanent establishment of the foreign company.

• The name of the company must include that of the foreign company.

• Registration of the branch office in the Austrian Commercial Register.

• A company without a registered office in the EU/EEA must appoint a "permanent representative" whose residence is in Austria.”

   

• Application is submitted to the Commercial Court.

• Entry into the Commercial Register with the certified signature by the management of the foreign company in the number authorised to represent the company.

• Current articles of association or articles of incorporation of the foreign company as a certified copy and, if necessary, a certified translation.

• Resolution by the foreign company regarding the setting up of the branch office in Austria.

• Proof of the legal existence of the foreign company (e.g., certified extract from the Commercial Register).

• Certified declarations of sample signatures of all managing directors of the foreign company and, if applicable, the representative in Austria.

• Proof of the regular business activity in the home country (not necessary for companies based in the EU).

• Confirmation of the actual setting up of the branch office (e.g. by the Austrian Federal Economic Chamber, rental contract).

• A registration of the business is usually required to enable a company to carry out business operations in Austria.

• There are licensed, regulated and free trades. Whereas you only need to be over the age of 18 to carry out a free trade and provide the criminal record certificate, the other types of professions also require proof of qualifications and/or experience. Tip: If you do not have the necessary qualifications or do not have a work permit for Austria, you can also recruit a "managing director under trade law" for at least 20 hours a week.

• Online-Registration of the trade via the Austrian Trade Information SystemAustrian Trade Information System ().

• A tax number is required for an Austrian branch office.

• The profits generated by the branch office are taxed in Austria.

• If you have employees, you need to register them with the responsible social insurance institution before their first day of employment. This is usually done for you by your tax adviser.